Reddick v. . Jones
Supreme Court of North Carolina
Appeal from tbe Superior Court of Law of Camden County, at the Spring Term, 1845, his Honor Judge Battle presiding. This is an action of debt, brought under the statute, by the plaintiff, as endorsee of a sealed note, bearing date October 19th, 1841, for $300, payable six months after date; which was given in this State by Daniel Jones, to the defendant, Taylor, and by Taylor endorsed to James Owens, and then by Owens endorsed in Virginia to the plaintiff, before the note…
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Appeal from tbe Superior Court of Law of Camden County, at the Spring Term, 1845, his Honor Judge Battle presiding. This is an action of debt, brought under the statute, by the plaintiff, as endorsee of a sealed note, bearing date October 19th, 1841, for $300, payable six months after date; which was given in this State by Daniel Jones, to the defendant, Taylor, and by Taylor endorsed to James Owens, and then by Owens endorsed in Virginia to the plaintiff, before the note became due, in payment of a debt which Owens owed the plaintiff. On nil debet pleaded, the case was this : The obligor,…
1Opinion of the CourtRuffin, C. J.
As it would be impossible for a purchaser to ascertain all the latent defects or equities, that might be set up against a bill or note, it was early found indispensable to the credit of negotiable instruments to hold, that a person, who takes them bona fide for a valuable consideration, before they are due, and without notice of their infirmity, is not affected by the failure or the want of a consideration, or even a fraud between previous parties, but may recover the money due thereon. This has been long held in this State, Black v. Bird, 1 Hay. 273 ; and it is needless to cite other…
2Cases cited1 opinion
- Brush v. ScribnerSupreme Court of Connecticut · 1836
3Cited by5 opinions
- Hooper v. Merchants Bank & Trust Co.Supreme Court of North Carolina · 1925
- State Planters Bank v. Courtesy Motors, Inc.Supreme Court of North Carolina · 1959
- National Bank of Sanford v. MarshburnSupreme Court of North Carolina · 1948
- Toms v. Jones.Supreme Court of North Carolina · 1900
- Black v. . BirdSuperior Court of North Carolina · 1796